Singapore Budget Highlights 2015

The outlook for 2015 is uncertain. The US economy continues to grow, but Europe’s growth is expected to be weak. Given this backdrop as well as the continued consolidation of China’s growth, the Finance Minister reported that for FY 2015, the overall budget balance is projected to be a deficit of $6.7 billion. However, this includes $6 billion set aside for future investments. If these funds are excluded, the current budget will be quite close to that we should not count on significant global balance. The Minister cautioned also demand over the medium term.